San Diego-based charge-off buyer Encore Capital reported that revenues from the debt purchasing business during the fourth quarter were $65.0 million, a 20% increase the same period of the prior year. However, net income declined 15% year-on-year to $6.6 million. Gross collections for 4Q/06 were $94.5 million, a 31% increase over 4Q/05. During the fourth quarter, the Company spent $63.6 million to purchase $1.4 billion in face value of debt. Asset classes purchased in the fourth quarter included credit card, healthcare, auto deficiency, telecommunications and consumer loans. For the full year of 2006, the Company spent $144.3 million to purchase $3.7 billion in face value of debt. The Company also announced that its Board of Directors has authorized a securities repurchase program under which the Company may buy back up to $50 million of a combination of its common stock and convertible senior notes. For complete details on Encore’s latest results, visit CardData ([www.carddata.com]).